House of Lords Committee Hears Evidence on Insurance Market UK

The latest update from the House of Lords;

On Wednesday 10 June the House of Lords Financial Services Regulation Committee will hear evidence from two witnesses in its first public evidence sessions of its new inquiry into the regulation of the UK’s consumer insurance market.

At 10.00am, the committee will hear evidence from:

• Matt Scott, Co-Founder and Chief Product Officer at Insurance Datalab.

At 11.00am, the committee will hear evidence from:

• Matthew Brewis, Partner in the Financial Services Consulting practice at KPMG.

These public evidence sessions will be held in Committee Room 3 of the House of Lords and streamed live and on demand on Parliament TV.

Topics the committee is likely to cover in these sessions include:

• How well consumers are able to find and purchase appropriate insurance cover.
• The challenges faced by consumers when comparing options for insurance, and whether price comparison websites help.
• Concerns for consumers about claims handling in the home and travel insurance market.
• How the consumer insurance market is regulated.
• How regulation can address consumer understanding in the insurance market.
• The impact the Consumer Duty has had on how insurance firms manage claims.